The convenience of automating your bill payments is obvious, however, if you don’t keep track you may end up spending more than you want. Always audit any automatic payment system.
Banking is necessary however banks are not is attributed to Bill Gates, and I think I agree with him. How banks do business leaves a lot to be desired. Smaller on line banks area already cutting into bank profits, will this make the big banks change? I don’t think so…
WYSIWYG Banking Why is it not possible to have a single bank account, that I can do all my banking with, without having to worry about overuse fees.
Gail Vaz-Oxlade warned about banks’ rights to seize money from customers to repay their debts, a practice known as a debt cash grab. This action, made legitimate through banking agreements, occurs frequently when customers amass significant or delinquent debts. Big Cajun Man advises considering diversification of assets and debts, and caution against consolidating all banking with one institution for enticing deals.